Publication
What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Global | Publication | September 23, 2016
Welcome to Essential Corporate News, our weekly news service covering the latest developments in the UK corporate world.
On September 16, 2016 the Business, Innovation and Skills (BIS) Committee announced the launch of an inquiry on corporate governance, focussing on executive pay, directors’ duties and the composition of board rooms, including worker representation and gender balance in executive positions. The inquiry follows on from recent inquiries by the BIS Committee into BHS and Sports Direct and the Prime Minister’s commitment to overhaul corporate governance.
Written submissions are requested by October 26, 2016 and particular points on which the BIS Committee is seeking submissions include the following:
Directors’ duties
Executive pay
Composition of boards
(BIS Committee, Corporate Governance Inquiry launched, 16.09.2016)
On September 19, 2016 the ICSA Governance Institute issued new guidance about minute taking. This Guidance Note recognises that minutes are as individual as the board to which they relate. However, it advises that decisions as to format, style and content should be taken from a position of knowledge of the law and of regulatory and market practice so as to provide an accurate, impartial and balanced record of meetings, but comments that this a deceptively difficult task.
The Guidance Note, which follows a consultation launched in May 2016, highlights the following key points:
The full Guidance Note is available to ICSA members only.
(ICSA, The Governance Institute, ICSA guidance on minute taking, 19.09.2016)
On September 20, 2016 Tomorrow’s Company released guidance produced by Tomorrow’s Good Governance Forum on improving board evaluations, focusing on how this is a process of shared learning and feedback. The guidance addresses matters such as critically evaluating self-performance and tackling weaknesses as part of the evaluation process, which as a result will enhance shareholder and stakeholder confidence in the board’s effectiveness and adaptability.
The guidance notes that the most effective board evaluation:
The guidance notes that the most effective board evaluation is/does not:
The guidance considers points arising from the action plan resulting from the board discussion about the review of the evaluation, issues in relation to disclosing the results of the board evaluation, appointing an external evaluator, widening the sources of feedback in the evaluation process and the roles of the chair, SID and company secretary in the process.
(Tomorrow’s Company, Improving board evaluation for greater board effectiveness, 20.09.2016)
Publication
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
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